Feds auctioning $25 million in bitcoins

The federal government is set to auction an estimated $25 million in bitcoins that were seized in criminal activities. The auction, scheduled for March 19, will be the seventh bitcoin auction held by the U.S. Marshals.

Share this post

Link to post

Share on other sites

The federal government is set to auction an estimated $25 million in bitcoins that were seized in criminal activities. The auction, scheduled for March 19, will be the seventh bitcoin auction held by the U.S. Marshals.

To participate in the upcoming auction, potential bidders must make a $200,000 deposit?

Share this post

Link to post

Share on other sites

Back in 2014 and 2015, the government auctioned off Bitcoin seized during the dismantling of the Silk Road, an infamous dark web marketplace.

During that auction, venture capitalist and Bitcoin supporter Tim Draper purchased 29,655 bitcoins for a mere $19 million. Today, that Bitcoin is valued at over $320 million – not bad for a two to three-year investment.